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The Central Bank of Nigeria on Thursday vowed to arrest folks promoting the newly redesigned banknotes and those that flagrantly abuse the notes at social features throughout the nation.
The apex financial institution mentioned it is going to accomplice with safety businesses to make sure that erring members of the general public who abuse the brand new notes are arrested and duly punished in accordance with extant legal guidelines.
The CBN’s intervention comes after a number of video clips of individuals “spraying” the notes at social features surfaced on social media platforms.
Because the apex financial institution launched the brand new notes, there have been massive crowds and lengthy queues at money factors and banking halls throughout the nation as Nigerians scramble to get the brand new notes.
In a press release signed by its spokesperson, Osita Nwanisobi, on Thursday, the apex financial institution described as “worrisome” reported instances of unregistered individuals and non-bank officers swapping banknotes for members of the general public, purportedly on behalf of the CBN.
“We want to state unequivocally that, opposite to the follow of those unpatriotic individuals, it’s illegal to promote the Naira, hurl (spray), or stamp on the foreign money beneath any circumstance in any respect,” it mentioned.
The assertion famous that Part 21(3) of the Central Financial institution of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the Naira or any be aware issued by the Financial institution throughout social events or in any other case howsoever shall represent an abuse and defacing of the Naira or such be aware and shall be punishable beneath the legislation by fines or imprisonment or each.”
“Equally, Part 21(4) states that “It shall even be an offence punishable beneath Sub-section (1) of this part for any particular person to hawk, promote or in any other case commerce within the Naira notes, cash or some other be aware issued by the Financial institution,” the assertion mentioned.
“Accordingly, the Central Financial institution of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Income Service (FIRS), the Financial and Monetary Crimes Fee (EFCC) and the Nigerian Monetary Intelligence Unit (NFIU) to deal with the unpatriotic follow.
“We, subsequently, warn Nigerians, notably these at social features reminiscent of birthdays, weddings and funerals, to desist from disrespecting the Naira or danger being arrested by legislation enforcement businesses.”
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Whereas reiterating its dedication to make sure the efficient distribution of the newly launched banknotes, the CBN referred to as for persistence because it seeks to deal with the problem of queues at ATMs.
“The Naira is our authorized tender and image of nationwide pleasure. Due to this fact, allow us to respect it and deal with it with care,” the assertion mentioned.
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